The United States Patent and Trademark Office has issued Ellie Mae a patent for the Encompass mortgage origination and processing technology. Here’s the scoop:

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The invention – U.S. Patent number 8,990,254 B2, titled “Loan Origination Software System for Processing Mortgage Loans Over A Distributed Network” – covers portions of the Encompass automation and loan origination system. The loan origination system offers an electronic form-based process that automatically generates and populates documents required during the course of a mortgage loan application process. Specifically, the patent covers:

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“Our Encompass technology offers a complete end-to-end solution to automate the mortgage origination process,” said Jonathan Corr, Ellie Mae President and CEO. “This patented invention not only showcases Ellie Mae’s technical leadership and expertise, it establishes an industry standard for the
mortgage industry to follow. The Encompass technology serves as the foundation for our next generation solution, designed to bring more value to our customers by moving completely to the cloud to offer greater scalability, improved performance, productivity enhancements and the ability to use any device, anywhere.”

About The Author

Tony Garritano is chairman and founder at PROGRESS in Lending Association. As a speaker Tony has worked hard to inform executives about how technology should be a tool used to further business objectives. For over 10 years he has worked as a journalist, researcher and speaker in the mortgage technology space. Starting this association was the next step for someone like Tony, who has dedicated his career to providing mortgage executives with the information needed to make informed technology decisions. He can be reached via e-mail at tony@progressinlending.com.